How to Implement A Compliant Corporate Social Media Strategy

Flintstones to the Jetsons:

How to Implement a Compliant Corporate Social Media Strategy And Live To Tell Others!

April Rudin, The Rudin Group

Corporate Experience plus private banking background

Skilled in structuring strategic alliances/social media marketing producing successful campaigns for winning new business

Seasoned professional in wealth marketing and frequently speaks in front of groups such as IPI, Family Office Exchange (FOX) and other wealth management industry conferences.

Frequent contributor/blogger on social media/marketing for Huffington Post, Registered Rep, Fundfire, Family Wealth Report, etc.

April Rudin is the founder of The Rudin Group, a wealth marketing firm. Her firm specializes in creating customized marketing solutions for family offices, wealth managers, private banks and other financial service firms. She works alongside clients to strategize and implement solutions for attracting and retaining UHNW/HNW clients.

Orchestrated Message

Slow moving and late to adopt changePopulated by left-brained thinkers

Highly regulatedRisk Adverse

Followers not leaders in innovationExperiencing a commoditization of services

Undergoing a seismic shift in client experience and expectation

Financial Services is:

One Orchestrated Message

Disruptive Technology + Economic Climate = Opportunities

Flintstones to Jetsons

Technology boosts messaging and visibility

One Orchestrated Message

Make it the right one.

Where Are We Now?• Wealth management firms have not felt serious pressure until now due to best

clients being oldest clients and thus, perceived as the least likely to use new technology including mobile internet and social networks

• Wealth Management is a “person to person” industry—Fiduciary Trust

• Older FA’s are typically the ones with the biggest book of business

• Babyboomers (ages 55 +) are the largest group of wealth holders

• Wealth is being created at a younger age and Babyboomer succession planning is contributing to this phenomenon .

Branding In Financial Services

• Financial services’ brands create the security, consistency and trust with the target market and are developed at the corporate level but must be executable at the local level or the brand loses value

• Strong corporate brands (especially in financial services) lead future clients away from making decisions based on price when other more meaningful differences between brands are communicated

Extending the Brand and Other Strategies• Branding can be extended from one or more core products to others. For example: one might offer wealth management services and partner with other service providers in insurance products, etc.

• Partnerships and strategic alliances are ways of extending your brand and gaining access to “warm leads” and pre-vetted future clients

• White-labeling is another brand extension strategy where additional products or services are offered from the outside but under the same brand.

• Naturally, brand extensions must be logical and fit with the given brand and business model but can provide additional revenue streams

How Can You Use Personal Branding to Strengthen the Corporate Brand?

Converting Chaos to Calm

Social Media Jargon

Discover the DifferentiatorsUnique Value Proposition

Social Media Platforms Platform Unique Factors Number of Users Strategies and

Best PracticesLinkedIn Business networking

and relationship building, introductions

115 Million Structuring your profile and joining groups

Facebook Small Business/Personal branding/Consumer brands

750 Million B to C, Business pages

Twitter Opportunistic, newswire, short burst in real-time

200 Million Aggregating and curating content to attract

YouTube Most AuthenticTeach and LearnLook + Listen

440 Million In five years, all websites will be video

Google+ Feasting on SEO and Adword content

18 Million Struggling to be all things

Blogging Thought-Leadership + POV, Complex ideas

156 Million Content + opinion Commenting and engaging with others

LinkedIn ProfileBuilding

Twitter ProfileBuilding

Facebook vs Twitter in Financial Services

Why the explosion?• Facebook is relationship-

driven• Twitter is content-driven

Source: Corporate Insight 2008 and 2011

Year Facebook Twitter2008 32% 15%2011 59% 67%

ROI for Social Media Media

“The Well-Placed Whisper”

Creating a Prospect Pipeline

Non-profits

T&E Attorneys

Real Estate Attorneys

M and A Attorneys

CPA Firms

WealthManage

r

Investment Bankers

2011 Social Media Habits of the Wealthy

UHNW = Net worth of between $5 million and $25 million HNW = Net worth of between $1million and $5 millionSource: Social Media and the Affluent Household 2011 Report—Spectrum Group

20% of UHNW 19% of HNW

33% of UHNW20% of HNW

50 % of UHNW 75% of HNW

6% of UHNW 3% of HNW

6% of UHNW 3% of HNW

HNW Social Media Miscueso Abandoned attempts at social media

o No plan in messaging – not nichey

o Inconsistent posting or blogging

o Too much original content and not enough curated content

Q & A Discussion

April RudinThe Rudin Group

[email protected]

Visit us at:www.therudingroup.comtwitter: @TheRudinGroup

Thank You!

PowerPoint Design Credit

Daron RosenbergCreative Director

Learn more at: www.daronrosenberg.com